Laporan Keuangan:

Dasar Analisis
Kuliah 2
Pokok Bahasan
Aktivitas Bisnis
Bentuk/Jenis Laporan Keuangan
Hubungan Berbagai bentuk laporan Keuangan
Faktor yang mempengaruhi Laporan Keuangan
Konsep dan Prinsip Akuntansi
Keterbatasan atas laporan keuangan
 Dynamics of Business Activities
Business Activities Time

Beginning of per
Investing Financing
Planning

Operating

Planning
Investing Financing
End of period
 Business Activities
Competition Pricing

Market demands Tactics

Planning
Activities:
Distribution Goals Promotion
& Objectives
Projections
Managerial performance

Opportunities Obstacles
Business Activities
Financing activities
• Owner (equity)
• Nonowner (liabilities)

Financing
 Business Activities
Investing activities
• Buying resources
• Selling resources

Investing Financing

Investing = Financing
 Business Activities
Planning
Activities Financial
Investing
Activities Activities

Operating Activities
Revenues and expenses from providing
goods and services
 Financial Statements Reflect Business Activities
Planning
Investing Financing
Current: Operating Current:
•
Cash
•
Notes Payable
• Sales
•
Accounts Receivable • Cost of Goods Sold
•
Accounts Payable
•
Inventories • Selling Expense
•
Salaries Payable
•
Marketable Securities • Administrative Expense
•
Income Tax Payable
Noncurrent: • Interest Expense Noncurrent:
•
Land, Buildings, & • Income Tax Expense
• Bonds Payable
Equipment
• Common Stock
•
Patents Net Income • Retained Earnings
•
Investments
Liabilities & Equity
Income statement
Assets Cash Flow Balance Sheet

Balance Sheet Statement of Statement of

Cash Flows Shareholders’ Equity
 Financial Statements

 Balance Sheet
 Income Statement
 Statement of Shareholders’ Equity
 Statement of Cash Flows
 Notes to Financial Statements
 Kodak
Dec 31, 2001 (In millions, except per share data)

Liabilities and
Shareholders’ Equity
Assets
Current Assets Current Liabilities
Payables $ 3,276
Cash and cash equivalents $ 448
Short-term borrowings 1,378
Receivables 2,337
Accrued income taxes 544
Inventories 1,137
Current maturities of LTD 156
Deferred income tax charges 521
Total current liabilities 5,354
Other 240
Total current assets 4,683
Other Liabilities
Properties
Long-term borrowings 1,666
Land, buildings and equipment at cost 12,982
Post-employment liabilities 2,728
Less: Accumulated depreciation 7,323 720
Other long-term liabilities
Net properties 5,659
Total liabilities 10,468
Other Assets
Goodwill (net of accumulated
amortization of $920) 948 Shareholders' Equity
Other non-current assets 2,072
Common stock, par value $2.50 per share,
Total Assets $ 13,362 950,000,000 shares authorized; issued
391,292,760 shares 978
Additional paid in capital 849
Retained earnings 7,431
Accumulated other comprehensive loss (597)
8,661
Treasury stock, as cost, 100,363,059 shares 5,767
Total shareholders' equity 2,894
Total liabilities and equity $ 13,362
 Balance Sheet
Total Investing = Total Financing
= Creditor Financing + Owner Financing

Kodak Financing

$13,362 = $10,468 + $2,894

 Income Statement
Kodak
For Year Ended Dec. 31, 2001 (In millions)

Sales $13,234
Cost of goods sold 8,670
Gross profit 4,564
Selling, general and administrative expenses 2,627
Research and development costs 779
Goodwill amortization 154
Restructuring costs and asset impairments 659
EARNINGS FROM OPERATIONS 345

Interest expense 219

Other income (charges) (18)
Earnings before income taxes 108
Provision for income taxes 32
NET EARNINGS 76
 Statement of Shareholders’ Equity
Kodak
For year ended Dec. 31, 2001
Accumulated
Additional Other
Common Pail In Retained Comprehensive Treasury
(In millions, except number of shares) Stock Capital Earnings Income (Loss) Stock Total
Shareholders’ Equity Dec 31, 2000 978 871 7,869 (482) (5,808) 3,428
Net earnings - - 76 - - 76
Other comprehensive income (loss):
Unrealized holding gains arising during
period ($34 million pre-tax) - - - (21) - (21)
Reclassification adjustment for gains included
in net earnings ($13 million pre-tax) - - - 8 - 8
Currency translation adjustment - - - (98) - (98)
Minimum pension liability adjustment
($7 million pre-tax) - - - (37) - (37)
Hedging gains (losses) - - - 33 33
Comprehensive loss - - - (115) - (115)
Cash dividends declared - - (514) - - (514)
Treasury stock repurchased (3,541,295 shares) - - - - (41) (41)
Treasury stock issued under employee plans
(1,393,105 shares) - (25) - - 82 57
Tax reductions – employee plans - 3 - - - 3
Shareholders’ Equity Dec 31, 2001 $978 $849 $7,431 $ (597) ($5,767) $2,894
 Statement of Cash Flows
Kodak
For year Ended Dec. 31, 2001 (In millions)
Cash flows from operating activities:
Net Earnings $ 76
Adjustments to reconcile to net cash provided by operating activities:
Depreciation and amortization 919
Restructuring costs 830
Provisions (benefit) for deferred income taxes (44)
(Increase) decrease in receivables 252
(Increase) decrease in inventories 461
(Decrease) increase in liabilities excluding borrowings (529)
Other items, net 100
Net cash provided by operating activities 2,065

Cash flow from Investing activities:

Additions to properties (743)
Acquisitions, net of cash acquired (306)
Marketable securities - sales 54
Marketable securities - purchases (52)
Net cash used in investing activities (1,047)

Cash flows from financing activities:

Net increase (decrease) in borrowings with original maturities of 90 days or less (695)
Proceeds from other borrowings 1,907
Repayment of other borrowings (1,355)
Dividends to shareholders (643)
Exercise of employee stock options 22
Stock repurchase programs (44)
Net cash provided by (used in) financing activities (808)
Effect of exchange rate changes on cash (8)
Net (decrease) increase in cash and cash equivalents 202
 Statement of Cash Flows
for Year Ended Dec. 31, 2001
Operating Cash flows $ 2,065
Investing Cash flows (1,047)
Financial Financing Cash flows (808)
Exchange rate changes on cash (8)
Statement Links Net Change in Cash
Cash Balance, Dec. 31, 1997
$ 202
246
- Kodak Cash Balance, Dec. 31, 1998 $ 448

Income Statement Balance Sheet

Balance Sheet
for Year Ended Dec. 31, 2001 Dec. 31, 2001
Dec. 31, 2000
Sales $13,234
Expenses (13,158) Assets
Assets
Net Earnings $ 76 Cash $ 448
Cash $ 246
Other Comprehensive Income (115) Non-Cash Assets 12,914
Non-Cash Assets 13,966
Comprehensive Income $ (39) Total Assets $13,362
Total Assets $14,212

Liabilities & Equity Statement of Shareholders’ Equity Liabilities & Equity

Total liabilities $ 10,784 for Year Ended Dec. 31, 2001 Total liabilities $10,468

Equity: Share Capital, Dec. 31, 1997 $ 1,849 Equity:

Share Capital 1,849 Adjustments/Stock Issue (22) Share Capital 1,827
Retained Earnings 7,387 Share Capital, Dec. 31, 1998 $ 1,827 Retained Earnings 6,834
Treasury Stock (5,808) Treasury Stock (5,767)
Total equity $ 3,428 Retained Earnings, Dec. 31, 1997 $ 7,387 Total equity $ 2,894
Add: Comprehensive Income (39)
Liabilities & Equity $14,212 Less: Dividends (514) Liabilities & Equity $13,362
Retained Earnings, Dec. 31, 1998 $ 6,834
(Point in time)

(Point in time)
Treasury Stock, Dec. 31, 1997 $ 5,808
Treasury Stock Issued 82
Treasury Stock Repurchased (41)
Treasury Stock, Dec. 31, 1998 $ 5,767

Dec. 31, 2000 (Period of time) Dec. 31, 2001

 Additional Information
(Beyond Financial Statements)

Management Discussion & Analysis (MD&A)

Management Report
Auditor Report
Notes to Financial Statements
Supplementary Information (10-K, 10-Q, 8-K, 20-F)
Proxy Statement
Social Responsibility Report
Faktor yang mempengaruhi Laporan
Leuangan
Prinsip Akuntansi yang Berlaku Umum (Generally
accepted Accounting Principles/ GAAP)
Manajer
Mekanisme Pengawasan dan Pelaksanaan
Bapepam : Badan Pengawas Pasar Modal (Securities and
Exchage Commission/ SEC)
Auditor
Tatakelola Perusahaan (Corporate Governance)
Tuntutan hukum (Litigation)
 
Financial Reporting Environment
 
  Regulators Industry Alternative Information
 
 
 
  Practices Sources
 
 
 
Economy and Industry
  Information
 
 
 
  FASB GAAP Managers Voluntary
 
 
Disclosure
 
 
AICPA
 
 
 
Analysts
  Statutory Financial Reports
 
 
(Financial Statements)
 
 
 

Investors
and
Corporate
SEC Litigation Auditors Creditors
Governance
Other
Users
Enforcement and Monitoring Mechanisms Users
Prinsip-Prinsip Akuntansi yang Berterima
Umum (PABU)
Defenisi: GAAP merupakan kumpulan konsep , standar,
prosedur, metoda, konvensi dan praktik yang sehat yang
dipilih atau didukung berlakunya, serta dijadikan
pedoman umum praktik akuntansi diwilayah (negara)
tertentu. Secara ideal di Indonesia terangkum dalam SAK
Berbagai profesi dan badan pengatur terlibat dalam
penetapan SAK, karena SAK merupakan suatu konsensus
hasil proses politik antara user laporan keuangan seperti
investor, kreditor dan pemerintah, manajemen
perusahaan dan para auditor (Direktur pengembangan
standar Profesi IAI 2009)
Standar Akuntansi
Otoritas yang berkaitan dengan Akuntansi di
Indonesia

 Environmental Factors
Unions AICPA Lenders
Securities and
Exchange Investors Politicians
Commission
Accountants Others

Provide input to

Financial Accounting Standards Board

Help set
Generally Accepted Accounting Principles
 Environmental Factors
Bapepam (SEC)

 Badan Independen, sebagian berbentuk badan

pemerintah
 Mengatur informasi yang harus diungkapkan
perusahaan yang go publik, memonitor dan mengawasi
ketaatan terhadap praktik yg ditetapkan
· Dapat mengganti, memodifikasi, atau membuat
pelaporan keuangan dan persyaratan pengungkapan
baru.
· Otoritas tertinggi dalam pelaporan keuangan
 Environmental Factors
International Accounting Standards (IAS)

 Set by International Accounting

Standards Board
 Not currently accepted in U.S.
 SEC under pressure to accept IAS
 Environmental Factors
Manager Perusahaan
 Bertanggungjawab atas laporan keuangan yang
 Setdanby
wajar akurat
International Accounting
· Memiliki kontrol utama atas integritas sistem dan
Standards
akuntansi Board
dan catatan keuangan yang digunakan
untuk membuat laporan keuangan
 Not currently
· Penilaian accepted
manajer diperlukan in U.S.
dalam angka-angka
laporan keuangan
 SECperan
 Memiliki under
dalam pressure to accept
melobi penetapan PSAK
IAS
 Environmental Factors
Auditor

 SEC
 Setrequires Audit Report Accounting
by International
 Audit opinion can be:
Standards Board
- clean (fairly presented)
 Not currently
- qualified (exceptaccepted
for) in U.S.
Auditors
- disclaimer (no opinion)
 SEC under pressure to accept
 Check Auditor quality & independence
IAS
 Environmental Factors
Corporate Governance

 Board
 Set of
bydirectors oversightAccounting
International
 Audit committee of the board
Standards Board
- oversee accounting process
-oversee
Not currently accepted in U.S.
internal control
- oversee internal/external audit
 SEC under pressure to accept
 Internal Auditor
IAS
Tuntutan Hukum
Pengawasan penting atas manajer dan juga auditor
adalah ancaman tuntutan hukum
Ancaman ini sering mempengaruhi manajer untuk
memilih praktik pelaporan pengungkapan wajib dan
sukarela yang lebih bertanggungjawab
 Environmental Factors

Internal Users External Users

Managers Lenders
Officers Shareholders
Internal Auditors Governments
Sales Managers Labor Unions
Budget Officers External Auditors
Controller Customers
Konsep dan Prinsip Akuntansi
a. Entitas Akuntansi (Accounting Entity)
Dipandang dari konsep akuntansi, perusahaan merupakan suatu entitas
(kesatuan usaha) yang terpisah dan berdiri sendiri di luar entitas ekonomi
lain.
b. Kesinambungan (Going Concern)
Bahwa perusahaan diasumsikan tidak berhenti di satu periode saja,
melainkan berlanjut terus dan bukan untuk dijual.
c. Periode Akuntansi (Accounting Period)
Pada umumnya suatu periode akuntansi terdiri dari 12 bulan atau satu
tahun.
d. Objektif (Objective)
Bahwa pencatatan transaksi-transaksi harus didasarkan pada dokumen asli.
e. Jurnal berpasangan
Konsep dan Prinsip Akuntansi
f. Pengukuran dalam satuan uang (Monetary Measurement Unit)
Bahwa pengungkapan dan penuangan transaksi harus dinyatakan dalam
nilai uang.
g. Harga Pertukaran (Historical Cost)
Bahwa aset selalu dicatat dan dilaporkan berdasarkan nilai perolehan
atau nilai belinya karena lebih obyektif dan mudah untuk pelaporannya.
h. Akuntansi Akrual.
Perusahaan harus menyusun laporan keuangan atas dasar akrual,
kecuali laporan arus kas
i. Penandingan beban dengan pendapatan (Matching Cost Against
Revenue).
Konsep ini menekankan perlunya menghubungkan beban biaya dengan
pendapatan yang diakui pada periode yang sama.
Konsep dan Prinsip Akuntansi
h. Konsistensi.
Metode standar laporan dari satu tahun ke yang akan datang adalah perlu jika
bperiode laporan keuangan akan dibandingkan dengan periode yang lain. Dimana
perbedaan metode akan mendi hasil tetap dan posisi keuangan akan lebih jelas,
perubahan mungkin terjadi jika akibat dalam laporan jelas terungkap.
i. Pengungkapan penuh.
Informasi mencerminkan keseimbangan antara cukup rinci hingga dapat
mengubah keputusan, dan cukupringkas dan sederhana sehingga mudah
dipahami.
 j. Material.
Pos-pos yang material disajikan terpisah dalam laporan keuangan, sedangkan
yang tidak material digabungkan dengan jumlah yang memiliki sifat atau fungsi
sejenis
k. Konservatisme.
Menyediakan semua kemungkinan kerugian dan tidak mengantisipasi keuntungan
yang belum terealisasi
Keterbatasan Laporan Keuangan
Terkait dengan Prinsip akuntansi itu sendiri